13 November 2009 12:12 [Source: ICIS news]
LONDON (ICIS news)--The EU economy has emerged from recession after third-quarter GDP grew by 0.2% compared with the previous quarter, while GDP in the eurozone increased by 0.4%, according to initial estimates by European statistical office Eurostat on Friday.
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In the second quarter of 2009, GDP growth rates were -0.3% in the EU27 and -0.2% in the eurozone.
Seasonally adjusted third-quarter GDP was down by 4.3% in the EU27 and 4.1% in the eurozone compared with the same quarter last year, after falls of 4.9% and 4.8% respectively in the previous quarter.
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